ASX set to dip on RBA day, Wall Street drifts; Oil rises on Hormuz uncertainty

The US stock market is drifting near its all-time high, while oil prices rise on uncertainty about when the Strait of Hormuz could reopen and get the global flow of crude going again. The RBA announces its rates decision this afternoon.

The US stock market edged down from its all-time high, while oil prices rose on uncertainty about when the Strait of Hormuz could reopen and get the global flow of crude going again.